A touching story emerges from Upper Arlington, where 78-year-old Sue VanWassenhove's smartwatch proved to be more than just a gift from her children. Initially intended to encourage physical activity, the device took on a new role following her arrhythmia diagnosis.
The data she gathered led her to reach out to her cardiologist, Dr. Laxmi Mehta at Ohio State Wexner Medical Center, where she learned her smartwatch could perform an EKG. Now, she can send those results directly to her doctor through her electronic medical record.
"There was a pattern starting to develop," VanWassenhove recalls. "It was a big help in spotting issues early."
Whether it be star-studded athletes like Cristiano Ronaldo and LeBron James publicly endorsing WHOOP, the Oura Ring reaching a $5.2 billion valuation to track health metrics for over two million users, or Pison Technology introducing a neural-sensing wearable for the wrist, smart wearables have given rise to a heightened focus on personal health tracking and convenient monitoring solutions for health professionals, enabling individuals to track vital signs, sleep patterns, and physical activity while providing healthcare providers with valuable real-time patient data for more informed decision-making.
One particular use case I explored in my prior analysis was addressing health conditions through temperature, which is exactly what Embr Labs (out of MIT) set out to do. Hot flashes, a sudden and intense feeling of warmth in the upper-body, impacts 8 in 10 women in the United States during time of menopause. Through successful research that reveals the team’s patented wearable can generate cool and warm sensations to provide comfort, it further exemplifies the innovative power of wearable technology in managing physiological symptoms.
Aside from helping people, wearable biometric sensors are showing early promise in the world of racehorses, where the American Association of Equine Practitioners pledged $785,000 to fund six sensor manufacturers.
Wearable biometric sensors have shown promise as an early warning system for the identification of racehorses at increased risk of musculoskeletal injury. These sensors are designed to capture data on a horse's movement patterns during high-speed events.
Within the realms of activity and fitness monitoring, smart wearables provide real-time tracking of metrics such as heart rate, steps, and sleep patterns. Vital sign wearables go further, measuring oxygen saturation (SpO2), body temperature, heart rate variability, and even ECG to support early disease detection, chronic condition management, and remote patient monitoring. One fascinating area is sleep and recovery, where wearable sensors can passively track brain activity, heart rate, breathing, and body movement to offer detailed insights into overall well-being.
Larger corporations developing popular wearables include Apple, Google, Samsung, and Huawei.
This investigation will additionally cover key drivers to growth, limitations, and emerging startups.
Key Drivers to Growth
The U.S smart wearables market was valued at an estimated $18.49 billion in 2023, and is expected to be worth $167.64 billion by 2034 (CAGR of 19.69%).
Key contributors to growth include cutting-edge technology that delivers sophisticated health analytics in user-friendly methods, broader access through competitive pricing and regulatory clearances, and growing public awareness around personal wellness and preventive healthcare.
In a McKinsey study of roughly 5,000 consumers, 82% of US consumers now consider wellness a top or important priority.
As for specific technological advancements, notable integrations include AI/ML capabilities for predictive health monitoring, new methods to improve photoplethysmography (PPG) sensors, improvements in peripheral oxygen saturation (SpO2) monitoring, advancements in digital biomarker development, and even recent hints at non-invasive glucose tracking.
AI/ML allows wearable sensors to process and analyze large volumes of patient data in real time, providing predictive insights into a patient’s health. By identifying patterns and anomalies in vital signs, AI can detect early signs of potential health issues, such as arrhythmias, respiratory distress, or hypertension. These predictive models enable timely interventions, reducing the risk of emergency situations. Additionally, machine learning can adapt to an individual’s specific health profile over time, offering more personalized care recommendations. By continuously learning from patient data, emerging technologies can optimize treatment plans, monitor medication adherence, and even predict disease progression, offering tailored approaches for unique patient needs.
Innovations within the realm of PPG sensors are enabling more accurate readings for smart wearables worldwide, allowing for more reliable tracking of vital signs such as heart rate, oxygen saturation (SpO₂), and blood pressure, even in challenging conditions like motion and low perfusion. The use of successive systolic differences in photoplethysmographic (PPG) signals for respiratory rate estimation introduces an important advancement in non-invasive respiratory monitoring by exploring respiratory-induced variations in successive systolic differences (RISSDV). RISSDV refers to the variations in the systolic peaks of PPG signals caused by breathing, which can be used to estimate respiratory rate (RR). The findings reveal that RISSDV provides more accurate and reliable RR estimations than traditional methods such as respiratory-induced amplitude variations (RIAV) or frequency variations (RIFV), with lower error values and increased robustness to missed PPG pulses. This particular innovation enhances the potential of smart wearables for continuous health tracking, especially when integrated with high-precision SpO₂ and RR monitoring.
One particular innovation that caught my attention was Samsung hinting at recent developments towards non-invasive continuous glucose monitors. This breakthrough could mark a significant shift in the way diabetes is managed, offering individuals a more comfortable, convenient alternative to traditional blood glucose monitoring methods that involve regular finger pricks. Non-invasive CGMs would not only reduce discomfort but also enable continuous, real-time tracking of glucose levels, empowering users with better control over their condition. Dr. Hon Pak, Samsung’s senior vice president of digital health, mentioned that his team is working on a sensor algorithm for predicting early signs of diabetes, along with advanced non-invasive glucose monitoring technology.
Whether it be the Apple Watch expanding its FDA-approved features to Atrial fibrillation (AFib) tracking, sleep apnea detection, and its Electrocardiogram (ECG) app, or the FDA recently granting approvals to new products like the Happy Ring, EvieMED Ring, and even a heartbeat-powered blockchain wearable like Vyvo Smart Chain, regulators have a positive outlook on the future of smart wearable technology.
Limitations
A few concerns in the realm of growth for smart wearables focus on data security, pricing, and a misuse of technology.
Although 30% of Americans use health wearable devices, only half of this group wears them daily. Furthermore, the dominant users of wearable devices are primarily low-risk for health conditions—young, wealthy, educated, and technology literate individuals. The groups at high risk for health conditions, for example, older adults and the socioeconomically deprived, have low uptake of this technology
Specific data security risks in wearables include breaches, unauthorized access, misuse of data by third parties, and location tracking, all of which expose users to potential privacy violations. Vulnerability Analysis and Exploitation Attacks on Smart Wearable Devices examines the effects of security flaws in Bluetooth Low Energy (BLE) technology, a core component to popular smart wearable devices. The research highlights how the absence of proper authentication, encryption, and access control measures render devices vulnerable to unauthorized access. Through various attack methods, including man-in-the-middle and data tampering techniques, the study demonstrates how attackers can alter critical device parameters and access sensitive health data.
The US Food and Drug Administration’s report highlights that nearly 40 manufacturers of approximately 300 wearable medical devices have encountered security threats.
Emerging Startups
Incora Health: Founded in 2022, Incora Health offers the first wearable earring that tracks key health metrics based on one’s unique menstrual cycle. The team’s product collects biodata through sensors measuring blood flow and temperature, seamlessly integrated into the earring's post and pearl-like dome. The 18k gold over titanium earrings transfer data to a free app in real-time, conveniently enabling users to track their current and long-term health metrics. Launched by Lindsey Calcutt, PhD, and Theresa Gevaert, the team brings together a wealth of experience in bioengineering and project management.
The company’s largest competitive advantage lies in its ability to provide accurate data. Unlike other wearable trackers that measure through skin, bone, and muscle, which can reduce accuracy, Incora Health's earring focuses directly on the earlobe's blood vessels for more precise measurements.
Incora not only monitors standard health metrics (heart rate, sleep, activity) but analyzes data based on your unique menstrual cycle. Using AI, we deliver truly personalized cycle-based insights to optimize your overall health.
Their product has been featured on sites such as The Economist, Upstate Business Journal, & Fox Carolina, and are currently accepting individuals on a waitlist.
Output Sports: Founded in 2017, the platform offers a wearable that wraps around an athlete’s shoe to measure performance metrics. It enables real-time data capture, live leaderboards, and automated load-velocity profiling, allowing coaches to objectively assess strength, power, mobility, and explosiveness across large athlete groups. Equipped with a single, high-speed wearable sensor, it enables velocity-based training (VBT), mobility assessment, RSI, stability, endurance, and more. The system includes durable, portable hardware, an Athlete App, a Capture App for real-time data recording, and the Hub Performance Management Platform for advanced analytics and reporting. Coaches can plan workouts, assign programs, conduct athlete profiling, and generate load-velocity profiles with minimal disruption to training time.
Regarding relevant traction, the team recently raised $4.8M in a Pre-Series A round before relocating to Boston, boast a client list consisting of organizations such as the England Football Association, NBA, NFL, and MLB, as well as winning Best New Sports Business of the Year Award at the 2023 Irish Sport Industry Awards.
Dr. Martin O'Reilly (CEO) earned his undergraduate degree in Sports and Exercise Engineering from NUI Galway and his PhD in Machine Learning for Signal Processing from UCD. “I am a passionate sports-wearables and analytics entrepreneur and researcher”
Embr Labs: Founded in 2013 by MIT-trained engineers, Embr Labs is a Boston-based technology startup that offers patented wearable technologies that provide heating and cooling at the touch of a button. More generally, the team aims to offer natural solutions to manage hot flashes, sleep issues, stress, and thermal discomfort. To date, the startup has raised $53.2M (recent $35 million via intellectual property-based debt financing in 2023).
The Embr Wave 2 ($299), Embr Labs’ most recent product, is designed to be worn on the inside of the wrist, allowing users to discreetly press a button to instantly start cooling when a hot flash is coming on. Moreover, customers can use the Wave 2 App to track usage and observe patterns over time for a more personalized experience. The product has over 1.7K reviews, with an overall rating of four stars.
Since its introduction in 2017, over 130,000 Embr Waves have been sold.
A few factors contributing to the startup’s success include its patented technology, numerous awards, strong management team, and clinically-supported research. For example, the team’s technology won the AARP Innovation in Aging Award, Time Magazine's Best Inventions, and the iF Design Award.
Recently, the company received six new patents for AI-driven digital therapeutics. Moreover, clinical trials revealed the following:
Wearing the Wave for 3 minutes produced a perceived change in environmental temperature of at least 5°F warmer or cooler, on average. Women in particular reported a larger average change of 9°F cooler and 6°F warmer.